It might be too nerdy to be the next Indiana Jones storyline, but, after years of searching, the long-lost, secret MLA pension annual report has been found. After dusting off the cover here’s what it shows: for every dollar MLAs contribute to their retirement fund taxpayers have to put in $2.79.
And, while the discovery may not quicken the pulse, it all adds up to allow MLAs to stash some serious treasure. When he left the Legislature, the Canadian Taxpayers Federation calculated that former MLA Steve Ashton would qualify for a pension of $86,000 per year for a lifetime total of $2.5 million. MLAs can join the pension plan after one year of service and start collecting guaranteed benefits at age 55.
